How much does it cost to live in a park avenue apt?

Answer 1

It depends what the apartment is. A 1 bedroom can be as low as $900,000 and as high as $5,000,000. Most coops on Park Avenue have an average cost of $7,000,000, however.

In order to have the kind of money for this kind of lifestyle (and get through the coop board to get into the building) one needs money, and the money comes from certain jobs (Wall Street trading, banking, brokerage, etc. Fashion Designers, a la Vera Wang, also can afford Park Avenue apartments. Put it this way: monthly fees for your coop = $35,000 a MONTH, add on a $7,000 fee a month = $504,000 for the coop alone. Throw in a maid (which most Park Avenue residents have) and that's another $40,000 (at $544,000 now). Education (the 2000 census stated that the average number of a children a household was 1.86...but it's 2012, so we'll put that up to three) is an easy $40,000 a year; hence add another $120,000: $664,000. Throw in food and clothes, bathroom appliances and such (for a family of 5 since most of them are married and the three children part) and I'll assertively add another $100,000. So, $764,000. Nannies = $40,000 = $804,000. Vacations every summer (abroad ALWAYS) will cost a pricey $20,000 to $50,000 depending on whether you fly coach or first class. I'll just split it down the middle and add $35,000 ($839,000).

Those are pretty much all of the main appliances needed to Park Avenue Knights. Once again, this is the LOWER side of things. Throw in Country Clubs, Gyms, Afterschool Programs for your kids and let's just call it a $1,200,000 year. Don't get me twisted, there are people on Park Ave in $30,000,000 apartments, and they are most likely spending $2-$3 mil a year. The good news is that these people are often married, and both spouses are usually make good money, so split the check in half and it's a required $419,500 a year to live on Park Ave, and this is only if you're married or cutting things in half. You won't wind this by earning $500,000 a year. The luxurious life comes from the end of the year bonus that a lot of business men receive, usually ranging for $1-$5 million for those high up on the job ladder. I would suggest making sure you can afford the full $839,000 by yourself, because if your wife or husband walks out, then Park Avenue will be nothing but a memory.